This paper challenges the dominant view of leadership, the organizational-effectiveness approach, and proposes a different concept of leadership in the context of retirement. A premise is that the organizational-effectiveness approach is inadequate to the task of retirement organizations and may inhibit senior participation. Following an introduction to the concept of leadership, problems with voluntary senior leadership programs are identified. The problems originate from a conceptualization of leadership that omits the following contextual variables: authority that is vested in a single person and organizational goals that are stressed over individual needs. The organizational effectiveness model is argued to be inadequate because it denies older people the opportunities to experience a sense of power as members of a group and to contribute talents that give them individual recognition. A shared culture of leadership based on shared power and the satisfaction of individual needs is advocated. One table is included. (26 references) (LMI)